The acquisition will enable Okapi to immediately leverage several large, high-grade North American uranium projects
Tallahassee’s mineral rights within Tallahassee Uranium project. (Credit: Okapi Resources Limited.)
Australian minerals exploration company Okapi Resources has agreed to acquire 100% of Tallahassee Resources, which holds a portfolio of large, high-grade uranium projects in the US.
Tallahassee Resources holds mineral rights covering around 7,500 acres in the Tallahassee Uranium Project in Colorado.
It has an option to acquire the Rattler Uranium Project, including the historical high-grade Rattlesnake open-pit mine, in north-eastern Utah, subject to annual claim maintenance payments.
With the acquisition, Okapi is enabled to immediately leverage several large, high-grade North American uranium projects.
The company gets direct access to a team with in-depth knowledge and experience in operating in the North American uranium sector.
Okapi intends to rapidly build a North American uranium play through acquisitions, and exploration, to become a new leader in North American carbon-free nuclear energy.
Okapi executive director David Nour said: “This is a transformational opportunity for Okapi to become one of the most prominent uranium developers in the world.
“Through this acquisition, Okapi is perfectly placed to capitalise on the strengthening uranium market. On behalf of the Board, I welcome Ben and the Tallahassee team.”
The Tallahassee Uranium Project is located in central Colorado, nearly 140km southwest of Denver and 30km northwest of Canon City.
The 7,500-acre project comprises leases for two private properties, the Taylor and Boyer ranches and eight federal lode mining claims over the High Park Uranium Deposit.
Rattler Project includes 51 BLM unpatented Federal mining claims located around 85km north of Energy Fuels’ White Mesa Uranium/Vanadium mill in Utah.
The project area includes the historical Rattlesnake open-pit mine, discovered around 1948 and operated through until about 1954.
The Rattlesnake pit reportedly produced a total of 285,000 tonnes of ore grading about 2,800ppm uranium oxide and 10,000ppm vanadium oxide for 1.6 million pounds of uranium oxide and 4.5 million pounds of vanadium oxide.